CN Railway Misses Estimates as Consumer Goods Shipments Drop
Canadian National Railway Co. spelled out a challenging picture for the economy as earnings fell short of expectations in the third quarter, partly due to falling demand for consumer goods.
Canadian National Reports Strong Q2 Earnings
Canadian National reported record second-quarter earnings that beat the expectations of Wall Street analysts.
CN Rail to Name New CEO Next Month; Candidate Jim Vena Drops Out
Canadian National Railway Co. dropped the most in eight months after saying that Jim Vena, a former executive favored by shareholder TCI Fund Management Ltd. to run the company, had dropped from consideration to replace CEO Jean-Jacques Ruest.
CN Railway CEO Ruest to Retire
The embattled CEO of Canadian National Railway announced his retirement on Oct. 19, the same day the company posted financial gains during a third quarter that saw its attempt to merge with Kansas City Southern fall apart.
CN Rail Targets Cost Cuts, Share Buybacks to Fend Off Shareholder Revolt
Canadian National Railway Co. said it plans to cut spending, streamline management and buy back C$5 billion (about $4 billion) of stock next year as its tries to ward off a shareholder revolt started by TCI Fund Management Ltd.
Proposed Merger Dominates CN Financial Report
Canadian National Railway reported an increase in second-quarter net income and revenue, and for the second period in a row company leaders spent significant time detailing for analysts the value of the company’s $33.7 billion merger with Kansas City Southern.
Rail Customers Express Concern Over CN-KCS Merger
As leaders from Canadian National Railway and Kansas City Southern Railway promote their proposed merger, concerns are growing among some of their customers.
CN Rail Offer for K.C. Southern to Fall Under Stricter Rules
Canadian National Railway Co.’s proposal to acquire Kansas City Southern will be judged under stricter regulations adopted in 2001, the U.S. regulator said in an expected decision that lays the ground rules for what would be the first major rail merger in more than two decades.
Canadian National Increases Offer to Seal Deal for Kansas City Southern
Canadian National Railway appears to be the front-runner to acquire Kansas City Southern Railroad after the KCS Board of Directors on May 13 declared CN has presented a “superior proposal” to an earlier offer from Canadian Pacific to purchase the U.S.-based railway.
CN Reports Mixed Q1 as It Enters Merger Battle Over KCS
Canadian National on April 26 reported a slight decline in income and revenue for the first quarter, but company executives during a conference call with investors spent as much time discussing the railroad’s move to seize ownership of Kansas City Southern as they did discussing their own railway’s financial results.